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Posted by
gdec
on 2008-03-14

PUBLIC:

I've worked with Banexi as a board member in some friend's company. The company failed on the first business model and had to reinvent a new one to do a restart. Obviously a stressful scenario... Though Banexi played their roles and were - rightly so - demanding from the mangement in such a context, they didn't give up. They spent a lot of time helping the management figure it out and restructure the business. The company eventually developped a new model and refinanced itself through a round in which Banexi maintained its participation, proving support for the business. Too early to tell how the story will end, but the company would have gone bust if not for them... Not sure all VC's would have done that...